President Trump’s economic conflict with China is set to escalate this week, as the administration plans to unveil fresh tariffs on $200 billion in Chinese products entering the U.S. and Beijing debates new ways to retaliate against U.S. corporations doing business in China.

The threats from both sides of the Pacific risk upending a fragile new diplomatic initiative—led by Treasury Secretary Steven Mnuchin and supported by top U.S. financial and business executives—to see if they can broker negotiations aimed at staving off...

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Here's How China Can Escalate a Trade Dispute With the U.S.

China has pledged to retaliate against U.S. tariffs in “equal scale and equal strength.” In addition to tariffs, here are three ways Beijing could hit back at Washington. Photo composite: Adele Morgan/The Wall Street Journal